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« Why You Need Disability Insurance and How to Save on It | Main | Is Going Back to College Worth It? (Are MBAs Worth It?) »

September 25, 2007

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It also has to do with this myth that everyone graduating college is going to be flooded with offers for high paying jobs. Of course they get trapped because those high paying jobs don't materialize. Instead they're making $25k and suddenly having to deal with huge expenses like housing, insurance, etc that they never had in college. The shock of the difference between what they thought they would make and what their actual salary is and what they thought life would cost and what it actually does is pretty harsh.

There's a reason so many young adults have no health insurance - there are only so many "high paying jobs" and the odds of them going to some kid fresh out of college is slim.

Good point Chris... It really sucks how a lot of people in college get into that mindset where they think it won't matter how much they use up in credit cards and student loans because they assume they will get a high salaried job after college.

So much of the time, it's not the case. And exactly what you said happens...

I know it's hard but it's really up to the parents to warn and teach their kids before they go out and make stupid mistakes that will effect them for a very long time. If only they taught us this stuff in high school...

I've been learning that a lot of young grads like me are in some kind of temp limbo. They're working for a company, but without full benefits and the like yet. The company's giving them a long test drive. Very financially stressful and being in debt makes it much worse!

While I agree with the message, some of the numbers appear a little funny. In particular the $8.50=$850 lunch part seems to indicate an anticipated inflation rate of around 10-11% between high school and retirement. You might as well be up to your eyeballs in debt under those circumstances.

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